Emeren Group to Go Private in $103 Million Merger with Shurya Vitra

Emeren Group Ltd. (NYSE:SOL) is one of the best solar stocks to buy according to Wall Street analysts. On June 19, Emeren Group announced that it entered into a definitive merger agreement with Shurya Vitra Ltd. and its wholly-owned subsidiary, called Emeren Holdings Ltd. The agreement will result in Emeren Group becoming a privately held company.

The deal is valued at $0.20 in cash per ordinary share, or $2.00 in cash per American Depositary Share/ADS, with each ADS representing ten shares. Under the terms of the merger, Emeren Holdings Ltd. will merge with and into Emeren Group Ltd., with Emeren Group surviving as a wholly-owned subsidiary of Shurya Vitra Ltd.

The company’s shares and ADSs will be delisted from the New York Stock Exchange upon completion of the merger, which is currently expected to close during the third quarter of 2025.

Emeren Group Ltd. (NYSE:SOL) develops, builds, and sells solar power projects. The company owns and operates 3 GW pipeline of projects and independent power producer assets, as well as a 10 GWh pipeline of storage pipeline.

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Disclosure: None. This article is originally published at Insider Monkey.